Wednesday, 16th July 2008 at 2:58 pm by Rander
Zimbabwe inflation now 2.2m%

As the woes continue in Zimbabwe, the central bank’s governor in Zimbabwe, Gideon Gono said today, “Statistics provided by the CSO (central statistical office) indicate that it is now at 2.2 (million percent).” This referring to the rate of inflation in the country. This is clearly the highest rate of inflation in the world. And this figure released of 2.2m% can not be totally accurate with many suggesting that the rate of inflation is actually much higher than this. The last official announcement about the rate of inflation was in February this year when it was said that inflation was 165 000%.

It is still anyone guess how they can actually still be able to calculate the rate of inflation in Zimbabwe with the way things our going in their economy. An inflation rate of 2.2m% really does not make sense to anyone who is not in Zimbabwe and maybe even for those in the country. If someone tells you that a cold drink is 20 billion dollars, one can not comprehend what the actual value is unless you convert it back into rands or US dollars.

Related Posts
  • The value of the Zimbabwe dollar
    Images like this seen on the left are being beamed across the world showing how bad the situation in Zimbabwe is. The local currency in Zimbabwe has b...
  • Zimbabwe inflation now 11.2m%
    We all thought an inflation rate of 2.2m% was crazy, but today we have been shocked again. Zimbabwe's annual inflation rate soared to 11.2 million per...
  • More zeros off in Zimbabwe
    As the economy continues to fall in Zimbabwe, the Reserve Bank in the country looks sets to take off some more zeros from the local currency. Just las...
Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Netvouz
  • DZone
  • ThisNext
  • StumbleUpon
  • Technorati

Subscribe

    Sign-up to receive the latest updates from TheRandToday.com direct to your mailbox
Hollard Pay-As-You-Drive

Comments

Thoko Sema on 16 July, 2008 at 3:08 pm #

It would not surprise me if the actaull rate is 30 million%. i was in Zimbabwe last week and it is sad whs happening there.


Sue on 17 July, 2008 at 10:48 am #

They shouldnt waste their time calculating it


Rising inflation is worldwide - Not just in South Africa | The Rand Today on 18 July, 2008 at 2:08 pm #

[…] around the globe, and while not every country is hurting as bad as Zimbabwe with its mind-boggling 2.2 million percent inflation, the United States and Europe are definitely still getting scorched by rising […]


$100bn note released in Zimbabwe | The Rand Today on 20 July, 2008 at 5:17 pm #

[…] not get any worse in Zimbabwe, a new Z$100bn note is set to be released on Monday (21 July). With inflation already at 2.2m% in the country, adding a higher denomination note is just going to push that rate of inflation even […]


kaushik sanghvi on 8 August, 2008 at 11:42 pm #

can someone tell how is this possible….how can inflation rate go so high……so how are people surviving overthere….


dr. mahesh on 15 September, 2008 at 11:19 am #

The rate of inflation in Zimbabwe is like the number of stars in the sky. one cannot count the rate of inflation in Zimbabwe.


Kaushik S Sanghvi on 29 October, 2008 at 8:51 pm #

The inflation is directly related to the policies laid by the local governing authority, hence if the policies are not reliable how can one expect the inflation rate to be low


dr. mahesh on 1 November, 2008 at 8:58 am #

INFLATION IS A PERENIAL PROBLEM IN ZIMBABWE. WHY NOT HUMAN RIGHTS PROTECT THE INTERESTS OF THE PEOPLE OF ZIMBABWE?
IS IT ONLY IN CASE PEOPLE ARE KILLED THEY COME IN PICTURE? NOW ALL OF US LIVING WHEREEVER WE ARE, SHOULD TRY TO VOICE OUR CONCERN FOR THIS PERENIAL PROBLEM OF INFLATION IN THAT COUNTRY.


Post a Comment
Name:
Email:
Website:
Comments:
Afrigator